As the “European 6G Market – Analysis and Forecast, 2029-2035” report suggests, the European 6G market will grow from just $320 million in 2028 to a whopping $240.02 billion by 2035. is predicted to grow rapidly at a staggering CAGR of 100.72%. This pivotal growth is being driven by the increased usage of edge computing devices and internet services, as well as a surge in demand for low-latency networks for purpose-built applications.
Europe’s 6G action plan fosters innovation
The European Union has announced the 6G Action Plan, a strategic initiative aimed at funding regional research projects. The plan aims to maintain Europe’s lead in 6G innovation. Major European countries such as Finland, Sweden and Germany are spearheading his 6G research and development movement with established companies such as: Ericsson and nokia plays an important role.
Emerging technologies boost 6G market
The market is poised to benefit from technological advances such as artificial intelligence, terahertz frequencies, and millimeter wave communications. These technologies are poised to support applications such as enhanced mobile broadband and holographic communications. Leading players in the industry are adopting strategies such as mergers, partnerships, and product launches to strengthen their presence in the market.
Challenges and opportunities in 6G development
Despite its promising future, 6G development is not without its challenges. The need for large investments and data security issues are major hurdles. However, government initiatives and the push for automation and smart technologies in the industry are expected to further accelerate the growth of the 6G market.
Evidence of this growth can be seen in Ericsson’s long-term collaboration with IIT Kharagpur in joint AI, computing, and wireless research with a view to 6G research. Ericsson has also launched an ‘India 6G’ program with a research team in Chennai, focused on developing technologies to deliver critical services, immersive communications and ubiquitous IoT.
However, it is important to note that 6G technology is still in its infancy, with no standards defined and many carriers yet to launch standalone 5G. However, 6G’s potential to serve densely populated areas and provide valuable services to both consumer and business customers proves its potential for rapid growth.
